Friday Mar 17 2023 SPY SPX ES Actionable Levels

In yesterday’s newsletter, I wrote:

I also wrote:

This is the direction the market decided. We broke 3929 all the way up to a high of 3964. Albeit we did not get to 3979 (yet) we are well on our way if this rally holds.

I played 3940 SPX Calls for 550% gains (max) and over 200% (all). This was just from leveraging the levels posted here last night.

1 min chart of 3940 0DTE SPX Call below.

The levels worked out great today. Leading to massive call gains as I opened off failed breakdowns of levels. Simply trust the levels and you will win.

Currently, we are now sitting firmly above the all important downtrend line that traces all the way back to January ‘22. This is significant, and if this can hold, this rally has legs.

However, we have important events coming up. First, we have OPEX tomorrow and all the volatility that it brings.

Additionally, FOMC and rate decision next week. 0-.5% rate increase. I think no raise and .5% to be extremely unlikely, but it doesn’t really matter.

Now we sit in AH testing the 3965 resistance level. What does this all mean and where do we go from here? Read below for my trade plan which includes actionable support & resistance levels, outlook for tomorrow’s session and today’s trade recap.

Learn the system to make 1-3 low risk, high trades per day using SPY/SPX options.

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